Information about us and how we manage the business
Our subsidiary businesses
UKAR brings together the Government-owned businesses of B&B and NRAM. This section explains the background for each subsidiary business.
Northern Rock was nationalised and taken into Government ownership in February 2008 and was then restructured into two legal entities on 28 October 2009 – Northern Rock plc and Northern Rock (Asset Management) plc (NRAM).
NRAM retained the majority of the pre-existing mortgage book and all pre-existing unsecured loan accounts. NRAM is permanently closed to new lending, but continues to provide services to existing borrowers. The management and control of NRAM was integrated with B&B under UKAR on 1 October 2010.
For company information about NRAM, or for information on supporting customers and mortgage intermediaries please visit the NRAM website.
On 29 September 2008, all of B&B’s retail branches and its savings accounts were transferred to Abbey. These were rebranded Santander in January 2010. The remainder of the business, including the mortgage books of B&B and specialist lending arm Mortgage Express were nationalised and taken into public ownership by the Government. B&B is permanently closed to new lending, but continues to provide services to existing borrowers. The management and control of B&B was integrated with NRAM under UKAR on 1 October 2010.
For company information about Bradford & Bingley and Mortgage Express, or for information supporting customers and mortgage intermediaries please visit the Bradford & Bingley website.